dangoexchange

🚨 Dango’s Perpetual Futures trading platform (Perpetual DEX) announced it is stopping operations after only about 4 months from launch, due to the lack of a path that can ensure sustained commercial success.

Timeline: 🔹 July 29 – 12:00 UTC: Trading is halted and all positions are closed at the oracle price. 🔹 August 13 – 12:00 UTC: The entire Layer-1 network is shut down, and any remaining funds are returned to the original ETH addresses.

✅ All funds will be returned as $USDC to Instant Accounts (Spot). Early withdrawals are recommended, as liquidity may become thin.

Important information: 🔹 The platform raised $3.6 million in an initial funding round in 2024. 🔹 TVL (total value locked) fell from about $4.5 million to $1.6 million. 🔹 Founder Larry Liu said the reasons for the shutdown include a lack of liquidity, delays in legal processes, team members leaving, and market pressure.

#Dango #DangoExchange #CryptoPatel